GBP/AUD may rise 78 - 109 pips

Our pivot point stands at 1.9390.

Our preference

The upside prevails as long as 1.9390 is support.

Alternative scenario

Below 1.9390, expect 1.9337 and 1.9305.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading under its 20 period moving average (1.9437) but above its 50 period moving average (1.9428).

Supports and resistances

1.9609 **

1.9577 *

1.9545 **

1.9514

1.9436 last

1.9411

1.9390 **

1.9337 *

1.9305 **

Number of asterisks represents the strength of support and resistance levels.